14, ST Quanwei announced that, considering the changes in the market environment, the company intends to terminate the transfer of shares of Anhui Quanwei Green Energy New Energy Technology Co., Ltd. (Hereinafter referred to as "Anhui Quanwei").
ST Quan said that in the process of carrying out the work related to the sale of the above-mentioned major assets, it actively organized the relevant parties to promote the sale of the major assets in accordance with the law and regulations. However, due to the recent changes in the market environment and other factors, the parties to the transaction failed to reach an agreement on the core terms of the transaction (including but not limited to the transaction price, payment method, delivery arrangements, etc.). At the same time, the company has been applied for reorganization and pre-reorganization by creditors, and the company's business development, asset disposal and other matters are facing uncertainty.
Finally, after careful study, the company intends to terminate the sale of the above-mentioned major assets. As of the disclosure date of this announcement, the parties to the transaction have not signed a formal transaction agreement. On the evening of April 14,
2025, Quanwei Science and Technology, which had not yet "worn a hat" at that time, announced that the company and other shareholders intended to sell 100% of Anhui Quan to Shanghai Yinggu Asset Management Co., Ltd. The transfer price is tentatively set at 270 million yuan . According to
the data, Anhui Quanwei Green Energy New Energy Technology Co., Ltd. was established in December 2022 with a registered capital of 360 million yuan, mainly engaged in solar photovoltaic cells and components business.
As for the reasons for the sale of Anhui Quanwei, Quanwei Science and Technology said bluntly in the announcement at that time that it would " withdraw funds through the sale of assets".
It is noteworthy that on March 30, ST Quanwei announced that due to the overdue loan of 100 million yuan, a set of 2G W heterojunction (HJT) photovoltaic panel assembly line equipment was sealed up. The period of seizure is from March 26, 2026 to March 25, 2028.
When it comes to ST Quanwei, lack of money seems to have become a label for the company. This may be related to its many sales of assets and successive losses in performance.
One is to sell assets many times. According to incomplete statistics from the Digital New Energy DataBM. Com, ST Quanwei had sold six subsidiaries and withdrawn 134 million yuan before the sale of Anhui Quanwei. On November 7,
2025, ST Quanwei also announced that it would transfer 40% of its wholly-owned subsidiary Shenzhen Yimi New Energy Co., Ltd. to Cai Jiexuan, an external investor, at a price of "0" yuan. For this move, ST Quan said that it aims to optimize the allocation of resources and introduce new funds and resources for subsidiaries .
In addition to "selling", on December 5, 2024, then Quanwei Technology announced that it had sold two properties under its name in Guangdong at a price of 10.74 million yuan and 48.6 million yuan.
Second, performance losses year after year. According to the statistics of Digital New Energy DataBM. Com, in 2020-2024, ST Quan made a profit of 7.97 million yuan only in 2022, and the company lost 816 million yuan in the remaining four years. According to the performance forecast, ST Spring is expected to lose 182-255 million yuan in net profit in 2025.
Against this background, ST Quanwei's debt ratio has also soared sharply, from 71.59% in 2020 to 99.26% in 2024. In the first half of 2025, the company's assets and liabilities reached 104.38% , falling into the predicament of insolvency. On January 29
, 2026, ST Quan received a notice from the creditor Qingdao Taishang Qingyang Supply Chain Management Co., Ltd. (Hereinafter referred to as the "creditor") that ST Quan was unable to pay off the debts due and obviously lacked the ability to pay off, but had the value of reorganization. On the same day, the Company applied to Dongguan Intermediate People's Court of Guangdong Province for reorganisation of the Company and applied for commencement of the pre-reorganisation procedure.
On March 4, in order to disclose the latest progress of the above-mentioned reorganization, the Dongguan Intermediate People's Court has set up a case number (2026) Yue 19 Po Shen 38 on this matter.
浙公网安备33010802003254号